Pensions - Articles - The Pension Protection Funds PPF 7800 Index for August 2020


This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).

 A scheme’s 179 liabilities represent, broadly speaking, the premium that would have to be paid to an insurance company to take on the payment of PPF levels of compensation. This compensation may be lower than full scheme benefits.

 Highlights
 • The aggregate deficit of the 5,422 schemes in the PPF 7800 Index is estimated to have decreased over the month to £140.5 billion at the end of August 2020, from a deficit of £199.5 billion at the end of July 2020.
 • The funding level increased from 89.9 per cent at the end of July 2020 to 92.6 per cent.
 • Total assets were £1,754.8 billion and total liabilities were £1,895.2 billion.
 • There were 3,506 schemes in deficit and 1,916 schemes in surplus.
 • The deficit of the schemes in deficit at the end of August 2020 was £258.6 billion, down from £306.4 billion at the end of July 2020.
 
 Lisa McCrory, PPF Chief Finance Officer & Chief Actuary, said: “The PPF 7800 Index this month shows an overall improved position. The aggregate deficit of the 5,422 schemes dropped by £59 billion on last month to £140.5 billion, driven by market movements. The schemes’ funding level recovered by 2.7 per cent to 92.6 per cent, only slightly short of the 93 per cent recorded this time last year, with scheme funding benefiting from both rising gilt yields and equity prices.”
 
 For a more in-depth look at the monthly changes to our data 
 
 To view the full update
  

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